Law No. 34 Of 25 February 1999

Original Language Title:  LEGE nr. 34 din 25 februarie 1999

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Law No. 34 of 25 February 1999 on the ratification of the loan agreement between Romania and the European Investment Bank and the National Administration of roads (A.N.D.) to finance road rehabilitation Project, phase III, signed in Luxembourg on 21 July 1998 and in Bucharest on 24 July 1998 PARLIAMENT ISSUING published in MONITORUL OFICIAL nr. 81 of 26 February 1999, the Romanian Parliament adopts this law.


Article 1 shall ratify the loan agreement between Romania and the European Investment Bank and the National Administration of roads (A.N.D.) worth 225 million ECUS, equivalent to finance road rehabilitation Project, phase III, signed in Luxembourg on 21 July 1998 and in Bucharest on 24 July 1998.


Article 2 (1) authorizes the Government, through the Ministry of finance, jointly with the European Investment Bank, to introduce, the duration of any of the loan in relation to the concrete conditions of the loan agreement, the duration of any amendments to its content relating to realocari, changes in the structure of the loan categories and components, changes of time limits, and any other changes which are not likely to increase Romania's financial obligations towards the European Investment Bank or to determine new economic condiţionari from those initially agreed between the parties.
  

(2) the Government of Romania shall report periodically to the European Parliament about the amendments introduced in the context of the report on external public debt.
  


Article 3 (1) the funds required payback, payment of interest, fees and other costs of the loan will be from the State budget through the budget of the Ministry of transport.
  

(2) the contribution of the funds (consisting of the equivalent amount of the fees and taxes levied in the country-T.V.A., customs duties, as well as other local costs of the same nature, which cannot be external loan payments) to the completion of the investment, financed by a loan of the European Investment Bank article. 1, will provide a special fund for public roads.
  

This law was adopted by the Senate at its meeting on 28 December 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
PRESIDENT of the SENATE, pp. CRISTIAN DUMITRESCU this law was adopted by the Chamber of deputies at its meeting of 2 February 1999, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. PRESIDENT Chamber of Deputies, ADRIAN NASTASE ACCORD 24/07/1998